SOLUTION: Shea wholesalers received an order costing $18,500.00. The terms of payment were 3/15, N/45. The owner did not have sufficient cash to pay the invoice within the discount period.
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Question 251922: Shea wholesalers received an order costing $18,500.00. The terms of payment were 3/15, N/45. The owner did not have sufficient cash to pay the invoice within the discount period. is it to their advantage to borrow the money for 30 days at 11%? if so how much money would they save? (assume a 360 day year) Answer by rfer(16322) (Show Source):
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